Annnoying FreeTrade features needs urgent attentions

Let me begin with genuine appreciation that it’s a good app and has made difference but it lacks some of the basic features which should have been there and must be implemented with urgent attention.

1. Average stock price in native currency ( $ price for US stocks )
I don’t know why this is still not available when so many have requested it for years. It’s absolutely frustrating not to have this feature. This is causing people to calculate themselves for $ cost averaging. I understand FX rate change but then you can show FX rate difference as T212 shows. This is sheer frustration

2. Stock graph default set to month view - why ?
Wondering why graph is set to default 1 month? The same is true for the WATCHLIST as it shows 1-month default view , why? if you sticking with default then give customers a choice of how they want to see or leave the last viewed graph setting as is . Absolute bonkers

3. Stock widget missing key information of profit / loss amount
Once you purchase stock, the widget in the portfolio shows the Stock name, Symbol, no of share, current amount, and % of profit/loss but the key and information of how much you have lost or made a profit isn’t there. Why ? in order to get this detail you need to open the widget. Profit/loss amount is key information and should be made available on the main widget .

7 Likes

Welcome to the forum. Personally, I could easily think of 3 things far more important to me than these, but each to their own.

Most of these are already covered in existing threads in the Freetrade Ideas section. If you visit that section of the forum, you can vote on each thread for the specific features you’d most like to see improved. If there’s anything missing, you should create a thread there, one per feature.

2 Likes

Yeah it seems odd they can’t address these idiosyncrasies when essentially they have a million a month to burn for the next three years

2 Likes

Not as though the developers are doing anything else. Just sat there twiddling thumbs and eating avocado on toast… :roll_eyes:

11 Likes

FT are focused on European expansion, these won’t be address ‘urgently’ they’re at best in the nice to have categories

2 Likes

I agree with all of them, good suggestions. I think the answer to all your questions is FT pushing investing for the long term rather than short term/day trading. The choice would be nice but its not their priority.

I could see USD $ average price have been requested hundred times over last year or so but nothing done . Shows adamant nature of free trade. I am afraid they not listening their customers.

I mean who is this genius thought to keep default price on graph for 1 month .To view current % change of stock , you need to keep changing to 1D after opening stock every time . absolute garbage . Also its lazy to show graph axis in % than actual stock price .

These changes wont take more than a month to develop/ fix but its complete ignorance and adamant from FreeTrade

2 Likes

I am not sure why $average and showing profit/loss amount makes difference for short term or long term investor . In fact these helps one to average cost down for long term investment efficiently, T212 shows these detail brilliantly . I find FreeTrade argument on long term investor approach is nonsense. Most other platform offers these basic features .

3 Likes

Yes, I can definitely see Freetrade sidelining the important and extensive work to handle expansion into new markets and new countries in favour of your very important suggestions, especially with choice encouragement like this. Bravo.

9 Likes

FT have been clear from day one, they have built their business model about long term investing and nudge people away from short term / day trading. What use is the £/$ +/- or the 1D graph when they intend for you to hold for months or even years.

Unless you’re needlessly trolling you might also want to look into your language, insults rarely result in a positive outcome. You are free to disagree but it doesn’t make them wrong.

3 Likes

I am not getting obsession to defend valid criticism. Wondering why long term investor doesn’t need to know whats their average $ price . In fact these have been constantly asked .

Defend however you want but problem wont go away. Mighty yahoo , nokia and many have failed for not listening their customer .As soon as something better available people will jump the ship. Thank you .

2 Likes

I think it’s just a difference of opinion. The points you have raised and suggest are big problems, I view as relatively minor inconveniences.

Given Freetrade do not have unlimited resources, I would much rather they focus on functionality that we know they are working on, for example on-boarding European stocks and exporting transaction history etc.

3 Likes

Because on its own the dollar share price is not representative of the value of your investment. You might think you’re doing well because the share price is going up but actually lose money because the value of the dollar drops.

What’s important to your investment is the value in your native currency, i.e. what you actually receive when you sell the investment.

It might be a little different if you could sell and hold the dollar value in your account because then you could separate the investment risk from the currency risk, but even then you would still need to report gains in GBP for tax purposes.

Anyone buying a foreign share has two distinct positions.
If one buys a U.S. company, one owns:
a) Shares
b) US Dollars
So the investor is taking a punt both on the company and the currency.

Obviously the end results is what really counts…
…but it doesn’t matter how great one is at stock picking… if the USD weakens noticeably (so reducing the value in GBP).

Therefore, it would be helpful (responsible ?) to show all shares re-valued - and charted - in their native currency.
It should be possible to show the USD position as a separate asset - revalued and charted accordingly.

For those wishing to hedge their FX exposure, there are plenty of FX platforms out there.
(…as long as the User remains clear about the difference between a genuine hedge (insurance) versus taking a punt !)

1 Like

I see there is a lot of defence on behalf of free trade especially from many who are investors in free trade company . USD prices is something asked more than a hundred times. Be it long term or short term investor should have the detail of native currency price.

There is an argument long term investor doesn’t need to know native currency price, why? if long term investor finds stocks return is hampered by FX then they may reconsider their strategy investing in the local market or hedging FX.

1 Like

Or the flip side less than 0.001% of customers want it but the VAST majority are happy with the product.

Yes they can improve but they are doing loads and there could be a point where they tried too much at once and it collapsed in quality :+1: It is annoying when platforms don’t offer what you want but they can’t please everyone and must be doing something right to win awards and customers :joy:

1 Like

I deleted my response somehow and that led me to wanting to type a rant of my own on a feature to recover accidentally deleted posts! :joy:

But the gist of my response was that Freetrade is a young company and as such may not have the same features as some of the more mature brokers out there. They are most probably aware of anything you’d request and they have a road map as to when they hope to implement those features.
Having said that, Freetrade is continuously improving the app with weekly stock additions and major features such as US fractional shares and Sipp accounts.

In addition, Freetrade now has hundreds of thousands of customers and I doubt that they would prioritise just the one customer’s demands. It is a free world and if you are not willing to wait for your desired features to be implemented, then you can choose another broker that does, or use both. It’s completely up to you. I also doubt that threatening to leave will make Freetrade change course on their plans.

Lastly I mentioned how having these types of arguments or reading them is a waste of time and I hope the forum can be a more positive and informative space like it used to be.

3 Likes

You’re right, it is important to be able to see what you would receive in your native currency if you sold your shares, but that can be done very easily whilst also being able to see your average share price in the share’s default currency.

It makes far more sense to see your share price average in the share’s currency than your own native currency, because that is how you see what it is currently trading for in app, and that is what live trackers show (say, Yahoo Finance). You open the share to buy or sell and see the price in $, not £ equivalent. So your average should be in $ not £.

Then, next to that, you can see profit/loss in £.

Further, the current FreeTrade price is not live anyway, so any talk of it being more useful converted in to £ is not up to scratch because it’s out of date anyway.

3 Likes

I think FT need to have a website to deal on, not just an app.

If anything happened I got no evidence of what I own… don’t even get an contract email when I place a deal.

And if they are to take on their competitors, a website is a must… can’t just rely on a mobile app.

3 Likes

Hi @nitroxhotshot :wave:t2:

I can see your new here (3 days old) so just to bring you up to speed.

This topic has long been covered more than once and the CEO said it will happen but right now they have other priorities, like European expansion being the first.

There is a topic for your request Here where you can vote, it’s worth noting that while it has over 500 votes that’s less than 0.0005% of all Freetrade users (circa 850,000). If you were to add up all the requests for European & international stock it dwarfs this while also adding revenue.

I’m not quite sure I follow. You have a contact note in your app which you can always access and you could get copies from the customer services team

1 Like